Hawaiian Electric Industries (NYSE:HE) Cut to “Sell” at StockNews.com

Hawaiian Electric Industries (NYSE:HE) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group decreased their target price on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a research report on Friday, January 3rd. Evercore ISI decreased their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research report on Tuesday, November 19th. Finally, Barclays began coverage on Hawaiian Electric Industries in a report on Thursday, February 6th. They set an “equal weight” rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.50.

Hawaiian Electric Industries Stock Performance

NYSE:HE opened at $10.82 on Tuesday. The company has a market capitalization of $1.87 billion, a PE ratio of -0.91 and a beta of 0.53. The company has a 50 day simple moving average of $9.52 and a two-hundred day simple moving average of $10.69. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. Hawaiian Electric Industries has a fifty-two week low of $7.61 and a fifty-two week high of $18.19.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Hawaiian Electric Industries by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider’s stock worth $177,397,000 after purchasing an additional 1,112,150 shares in the last quarter. Zimmer Partners LP bought a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth $145,200,000. FMR LLC lifted its holdings in shares of Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after purchasing an additional 5,274,633 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hawaiian Electric Industries by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 3,925,882 shares of the utilities provider’s stock worth $38,208,000 after purchasing an additional 132,740 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Hawaiian Electric Industries by 14.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider’s stock worth $33,778,000 after purchasing an additional 449,873 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.